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HOW BANKS AND INVESTORS ARE STARVING THE THIRD WORLD
Ellen Brown
“What for a poor man is a crust, for a rich man is a securitized asset class.”
–Futures trader Ann Berg, quoted in the UK Guardian
Underlying the sudden, volatile uprising in Egypt and Tunisia is a growing global crisis sparked by soaring food prices and unemployment. The Associated Press reports that roughly 40 percent of Egyptians struggle along at the World Bank-set poverty level of under $2 per day. Analysts estimate that food price inflation in Egypt is currently at an unsustainable 17 percent yearly. In poorer countries, as much as 60 to 80 percent of people’s incomes go for food, compared to just 10 to 20 percent in industrial countries. An increase of a dollar or so in the cost of a gallon of milk or a loaf of bread for Americans can mean starvation for people in Egypt and other poor countries.
Follow the Money
The cause of the recent jump in global food prices remains a matter of debate. Some analysts blame the Federal Reserve’s “quantitative easing” program (increasing the money supply with credit created with accounting entries), which they warn is sparking hyperinflation. Too much money chasing too few goods is the classic explanation for Read more…
Authoritarian governments start stockpiling food to fight public anger
Commodities traders have warned they are seeing the first signs of panic buying from states concerned about the political implications of rising prices for staple crops.
However, the tactic risks simply further pushing up prices, analysts have warned, pushing a spiral of food inflation.
Governments in Asia, the Middle East and North Africa have recently made large food purchases on the open market in the wake of unrest in Tunisia which deposed president Zine al-Abidine Ben Ali. Read more…
Thousands protest in Jordan for third week
Suha Philip Ma’ayeh
AMMAN // For the third consecutive on Friday, Jordanians poured into the streets after noon prayers to protest against soaring prices and call for a change in government.
The Islamist led opposition, professional associations and leftist activists marched yesterday from Al Huesseini Mosque to the capital’s center. They held banners that read “Corruption and normalisation are two faces of the same coin,” called for a “national unity government” and called for the prime minister Samir Rifai to step down.
Police estimated 3,500 people took part in the protest, one of several demonstrations held this month despite two recent government aid packages to mitigate the impact of soaring prices. The measures included a 20-dinar (Dh100) monthly salary increase for state workers and in pension, while the previous aid package increased subsidies for some commodities, including fuel and food staples such as rice and sugar.
Another 2,500 people also took to the streets in six other cities across the country after the noon prayers yesterday. Those protests also called for Mr Rifai’s ouster. Read more…
Planned Food Shortage In The US
“Most people have the idea that food in our grocery stores just magically appears; maybe it just pops up out of the floors or drops down from secret store rooms in the ceilings.”
Buy local? Ok! I will do that! Wait…..this says product of China, product of Brazil, product of Mexico, product of Egypt, Guatemala, Argentina ………where is the stuff produced in the US? How am I supposed to buy local to support my local economy when there is nothing here that was produced locally or even in the United States? And this stuff over here? It just says “distributed by” a company in the US and I have no idea where the heck it came from.
In what I see as a sick joke mouthed by sick individuals in our government, the call has gone out to “buy local! Know your farmer!” I know the farmers in this area but they are being regulated and pressured out of business with the passage of the fake food safety bill in the senate. Read more…
Economic Warning Signs
Do you see all of the warning signs that are flashing all around you? These days it seems like there is more bad economic news in a single week than there used to be in an entire month. 2011 is already shaping up to be a very dark year for the world economy. The price of food is shooting through the roof and we have already seen violent food riots in countries like Egypt, Algeria and Tunisia. World financial markets are becoming increasingly unstable as the sovereign debt crisis continues to get worse. Meanwhile, the number of Americans applying for unemployment benefits is up, foreclosures are up and poverty continues to spread like a plague throughout the United States. What we are starting to see around the globe is a lot like the “stagflation” of the 1970s. All of the crazy money printing that has been going on is overheating prices for agricultural commodities and precious metals, but all of this new money is not doing much to help the average man or woman on the street. Read more…
American Riots Coming Soon…
What in the world is happening to America? The things that you are about to see in the videos posted in this article are so disturbing and so violent that it is hard to believe that it is actually Americans that are doing this to one another. Once upon a time, Americans generally conducted themselves with humility, grace, civility, honor and with a tremendous amount of respect for others. Sadly, those days are now long gone. Now, large numbers of people in this country are just going wild. Unfortunately, the videos you are about to watch are not isolated incidents. Stuff like this is going on all over the country. So what is going to happen when the economy collapses and shortages begin? What kind of violence and rioting should we expect to see at that point? Just recall what we witnessed in the aftermath of Hurricane Katrina. Sadly, if the videos below are any indication, the thin facade of civilization that we all take for granted every day could Read more…
South Africa: Floods kill 120 and destroy crops
JOHANNESBURG, South Africa — South Africa is reeling from unusually heavy rainfall that has caused flooding in many parts of the country, wiping out crops in what is the continent’s main breadbasket.
More than 120 people have been killed in the thunderstorms and flooding since mid-December, and some 20,000 people are in need of assistance. The South African government has declared disaster areas in eight of its nine provinces.
And it’s not over yet. Above-average rainfall is forecast for South Africa and neighboring countries for the next few months.
Much of southern Africa is now on flood alert, including Mozambique, where at least 13 people have died from floods and thousands have fled their homes for higher ground. Namibia, Botswana, Zimbabwe and Zambia are also on alert for flooding.
While this is the annual rainy season in southern Africa, the heavier than usual rainfall has been blamed on La Nina, the weather pattern behind the severe flooding in other southern hemisphere countries including Australia, Brazil and the Philippines.
In South Africa, the government has put the flood damage at $211 million, but this is an early estimate and expected to rise. At least Read more…
Economist: United States Worse Off than Greece
Kurt Nimmo
Infowars.com
Dr. Laurence Kotlikoff is an economics professor at Boston University. He says the Treasury and the government are fudging the national debt numbers. Kotlikoff says the United States is bankrupt and we don’t even know it.
During his SOTU address, Obama called for a freeze on discretionary spending. He called for a five-year freeze on non-mandatory domestic spending, a proposal he estimated would save $400 billion over the next decade.
He said entitlements like Medicare, Medicaid and Social Security will need to be reformed without mentioning specifics. In other words, the government is thinking about cutting these programs to the bone. Boomers will be eating dog food after their pensions are stolen and the entitlement Ponzi scheme breaks down. Read more…
12 Economic Collapse Scenarios That We Could Potentially See In 2011
What could cause an economic collapse in 2011? Well, unfortunately there are quite a few “nightmare scenarios” that could plunge the entire globe into another massive financial crisis. The United States, Japan and most of the nations in Europe are absolutely drowning in debt. The Federal Reserve continues to play reckless games with the U.S. dollar. The price of oil is skyrocketing and the global price of food just hit a new record high. Food riots are already breaking out all over the world. Meanwhile, the rampant fraud and corruption going on in world financial markets is starting to be exposed and the whole house of cards could come crashing down at any time. Most Americans have no idea that a horrific economic collapse could happen at literally any time. There is no way that all of this debt and all of this financial corruption is sustainable. At some point we are going to reach a moment of “total system failure”.
So will it be soon? Let’s hope not. Let’s certainly hope that it does not happen in 2011. Many of us need more time to prepare. Most of our families and friends need more time to prepare. Once this thing implodes there isn’t going to be an opportunity to have a “do over”. We simply will not be able to put the toothpaste back into the tube again.
So we had all better be getting prepared for hard times. The following are 12 economic collapse scenarios that we could potentially see in 2011….
#1 U.S. debt could become a massive crisis at any moment. China is saying all of the right things at the moment, but many analysts are openly worried about what could happen if China suddenly decides to start dumping all of the U.S. debt that they have accumulated. Right now about the only thing keeping U.S. government finances going is the ability to borrow gigantic amounts of money at extremely low interest rates. If anything upsets that paradigm, it could potentially have enormous consequences for the entire world financial Read more…
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